Bain Capital raises $720m life sciences fund

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Bain CapitalBain Capital said today that it raised $720 million for its 1st investment fund focused exclusively on the life sciences sector.

“We are excited by some of the long-term secular trends in the life sciences space,” Bain Capital Life Sciences managing director Adam Koppel said. “Big pharma is increasingly outsourcing R&D at the same time as many new technologies and treatments are being developed.”

The Boston-based fund has already backed a pair of companies, RNAi inhibitor maker Dicerna Pharmaceuticals (NSDQ:DRNA) and Solid Biosciences, which is developing treatments for Duchenne muscular dystrophy.

The Bain life sciences fund, led by 8 investment professionals, will target investments in the $30 million to $70 million range in both publicly traded and privately owned companies in the medical device, specialty pharmaceutical and biotech sectors.

“We are not going to be activist investors, we are going to be more like what they call ‘constructivist’ investors, who play an important role in companies’ strategic decisions,” added BCLS managing director Jeff Schwartz.

Material from Reuters was used in this report.

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